Tesla's Tumult: Musk's Trump Tiff Tanks Shares
Tesla's shares plunged amid a public clash between CEO Elon Musk and President Donald Trump over tax legislation, raising investor concerns about the company's stability. The altercation could lead to regulatory and financial challenges for Tesla, impacting its autonomous vehicle ambitions and overall market performance.
Tesla shares nosedived on Thursday as President Donald Trump and Elon Musk, the company's CEO, engaged in a high-profile public spat.
Investors grew increasingly anxious over the potential repercussions of the dispute, leading to a 14% drop in Tesla's stock, effectively erasing $150 billion in market value. The clash centered around Trump's tax bill, which affects electric vehicle incentives.
Musk's ambitions for self-driving robotaxis may face hurdles from federal agencies, while potential changes in EV subsidies could undermine Tesla's market presence.
(With inputs from agencies.)
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